TLDR: An AML check is an add-on to a Homeppl check that includes ongoing monitoring of applicants to meet Anti-Money Laundering requirements. Homeppl, in partnership with ComplyAdvantage, monitors clients for changes in Politically Exposed Person (PEP) status, sanctions, adverse media, and fitness probity or warnings, alerting users to any new matches.
What is an AML Check?
An AML check is an additional add-on to a traditional Homeppl check that includes additional ongoing monitoring of your applicant.
Ongoing Monitoring is an important part of the Anti-Money Laundering (AML) procedures required of all regulated businesses. In addition to ID, PEP, and Sanction screening, ongoing monitoring is the process of keeping a regular check on the client going forward. Clients can be monitored on an ongoing basis for changes in their PEP status, which could result in increased risk to regulated businesses.
Ongoing Monitoring at Homeppl
Ongoing Monitoring is a service HomePPL offers in partnership with ComplyAdvantage. Ongoing Monitoring means that if there are any new matches for the individual in question in the following categories, you will be alerted:
- Politically Exposed Person (PEP)
- Sanctions
- Adverse Media
- Fitness Probity or Warnings